Romgaz took out a 325 million euro credit from Raiffeisen Bank to partially finance the acquisition of ExxonMobil Romania, according to a release of the company, sent, on Wednesday, to the Bucharest Stock Exchange.Romgaz will use the loan to partially finance the acquisition price that will be paid for all the shares issued by ExxonMobil Exploration and Production Romania Limited (EMEPRL), which owns 50% of the rights and obligations regarding the Neptun Deep perimeter.The loan facility worth 325 million euro has a deadline of five years and is correlated with the general financial performance of Romgaz. The facility, in which Raiffeisen Bank acts as creditor, offers Romgaz the financing for its resource development plan, covering part of the acquisition price of all shares issued by EMEPRL."The signing of this financing contract is necessary to realize an important step assumed in the Romgaz strategy for development for the 2021-2030 period, namely the finalization of the acquisition of the EMEPRL shares, owner of 50% of the rights and obligations regarding the Neptun Deep perimeter. It is a first step that proves our determination to maintain Romgaz as the most important player in the gas market in Romania and will position us strategically in the current geopolitical context. The development and exploitation, as soon as possible, of the deposits with commercial potential in the Neptun Deep perimeter will ensure the adding of considerable volumes to the production of natural gas of Romania which will support, without a doubt, security in the natural gas supply of the country," said the general director of Romgaz, Aristotel Jude.The closing of the financing contract was facilitated by the legal support of law firms Dentons, representing Romgaz, and Wolf Theiss, acting for creditor Raiffeisen Bank.Presently, ExxonMobil and OMV Petrom are equal partners in the deep sea project Neptun Deep, where exploration has revealed gas deposits estimated at 42-84 billion cubic meters.
Estonian cinema will take center stage at the 24th edition of the Transilvania International Film Festival (TIFF) in the Focus Estonia program, presenting a curated selection featuring both recent releases and rediscovered classics, screened in restored versions. Among the films to be screened is Moonika Siimets' The Black Hole (2024), a dark sci-fi comedy inspired […]
The ITH Group, which includes the portals Vola.ro, Fru.pl, and GoVola.com and operates in Romania, Poland, and Bulgaria, announced the direct integration of LOT Polish Airlines flights into its own platforms. The collaboration strengthens the group’s position as a regional leader in flight ticket distribution, according to its press release. This will be achieved through […]
In a ruling handed down on Tuesday, May 13, the Bucharest Court of Appeal rejected a request by US authorities for the extradition of a 17-year-old Romanian student. The youth is accused of sending hundreds of bomb threats and manipulating underage girls into engaging in acts of extreme violence, sexual exploitation, and self-harm. Aside from […]
Accor, a global leader in hospitality, has announced the expansion of its presence in Romania by signing a franchise agreement with Amazonia Aquapark SRL for Novotel Timișoara. The newly built hotel is scheduled to open by the end of 2027, marking the brand's first property outside Bucharest and becoming a flagship for Novotel in Eastern […]
A survey published on Wednesday, May 14, by the Open Minds Association shows that Romanians strongly support respect and mutual support in the workplace, signaling that the business environment can play a critical role in supporting social unity. According to the first data set from the “Diversity and Inclusion Barometer,” May 2025 edition, 81% of […]
Eight of the largest business organizations active in Romania have voiced their concern over the accelerating deterioration of the business climate and the erosion of Romania’s credibility. The call is signed by AmCham Romania – American Chamber of Commerce in Romania, AOAR – Association of Romanian Businessmen, AHK – Romanian-German Chamber of Commerce and Industry, […]
